SQNM/VRML/VICL Follow up

SPY

First I want to cover the SPY, the first market update this morning showed what looked like a pullack off the opening negative divergence, but the 5 min chart was still in line, so the assumption was either pullback or some sort of consolidation. Remember that the market largely moves together. 3C is not yet in confirmation on the 1 min chart, but is making progress.

SQNM

 SQNM 5 min showed a negative divergence on the open, so a pullback here is reasonable.

 The 15 min chart shows a decent positive divergence and combined with the price pattern, suggests there should be more upside in the SQNM long trade.

 Although the 22 bar m.a. on an hourly chart is a little tighter then I'd like, it's not a bad proxy for a trailing stop. I'd prefer that this stop was used on a closing basis, but you have to make that decision according to your risk management plan/entry.

VICL

 I warned several weeks ago to take profits in VICL and that we'd take a look again on a pullback, right now it's there and thus far, it looks to be a good risk:reward trade here. The white box area is where I'd prefer a stop, although you'll have to decide what works for you risk management wise. I certainly don't want a stop right at $3.50, so I'd suggest either being tighter or a bit below $3.50 as it's a very obvious level for stops to congregate.

 The 15 min chart went positive into the pullback, suggesting that it would see another leg up, although I do feel this may be the last leg before a more substantial consolidation.

 The VICL 5 min chart is also positive into the pullback, this is what I was looking for in a pullback and it appears VICL is just getting started.


VRML

 Another consolidation, similar to VICL's

It looks like there was a head fake break yesterday, the 5 min 3C chart was positive at the break. As I often state, we almost always see some sort of head fake before a move higher and the positive divergence at the head fake looks good to me, it appears this is the start of the move in VRML.

 This appears to be the head fake, note the volume and now the move toward resistance. I'd like to see volume pick up crossing resistance -actually, just checked and it is above resistance on a good volume move.

 Here's the hourly positive divergence,

And once again the 5 min which seems to indicate the start of the move in VRML-especially given the head fake that just took place.